Twid Transforms Subscription Payments with Innovative Reward Mandates

Twid, a leading rewards-based payment network in India, has launched Reward Mandates to revolutionize subscription payment mandates by integrating rewards into recurring transactions. This solution aims to enhance subscription efficiency, reduce churn rates, and provide significant cost-saving opportunities for consumers, while improving merchant economics.

Twid, India's foremost rewards-based payment network, has announced the launch of its groundbreaking Reward Mandates. This new initiative aims to revolutionize the subscription payment mandate landscape by integrating rewards into each recurring transaction.

Unveiled under the NPCI Partner Program at the Global Fintech Festival 2024, the Reward Mandates aim to address the existing gap where recurring payments do not usually attract rewards. Twid's innovative solution ensures that customers continue to accumulate reward points even when their balance is low, thereby encouraging uninterrupted service and maximizing benefits for consumers.

This initiative not only offers significant cost-saving opportunities for consumers but also promises increased subscription conversions and reduced churn rates for merchants. Reward Mandates reduce the financial burden on merchants by offsetting costs associated with sustaining offers tied to subscriptions. With these enhancements, Twid is set to make customer acquisition and retention more cost-effective for businesses.

(With inputs from agencies.)